Nationwide Title Clearing Inc. responded to issues regarding title defects by making all property reports accessible through online ordering. According to NTC executives, property records are the key to ensuring a smooth title conveyance as well as reducing the risk of buyback or even inability to foreclose. The firm recently launched a restructured website which makes property reports readily available on the internet. While most title defects commonly occur when a person or an organization lays claim to a property that is owned by other parties, they can also include various factors that would make the title invalid. These issues may include;
- Simple issues concerning wording in the document that may not be complying with the local real estate standards
- Failure to put the signature of a party that is mandatory in the transaction, such as a spouse or a co-owner;
- Previous claims as well as other encumbrances that have not been removed: The title should be free from encumbrances so as to be marketable.
- Failure to adhere to recording and filing procedures while recording the real estate documents.
According to NTC Chief Executive Officer John Hillman, due to these reasons, addressing most title defects before the property is sold or even transferred is critical. In a bid to assist the evolving mortgage sector, NTC made the following property reports available through online ordering:
- Assignment Verification Report Services
- Ownership & Encumbrance Report
- Tax Status Report
- Tax Status Report
About Nationwide Title Clearing
Headquartered in Palm Harbor, Florida and started in 1991, NTC is a leading privately-owned research as well as document processing firm in the residential mortgage industry. It services to mortgage lenders, servicers as well as investors among them eight of the top 10 residential mortgage firms in the US. NTC is renowned for delivering the utmost level of accuracy in research and quality document processing services that set the industry standard. It does that while protecting homeowners, helping the mortgage banking sector and preserving the US land records.
The firm’s land records and document gurus can track and meet all the county document requirements in various recording jurisdictions Countrywide, which are around to 3600 different jurisdictions.
NTC specializes in offering land records research, property reports, assignment services, lien release services, final document tracking, document retrieval as well as other custom business services.
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